First Trust Intermediate Duration Stock Forecast

First Trust Intermediate Duration stock price ended at $17.04 on Thursday, after losing 0.699%.
(Updated on Apr 25, 2024)

FPF Signals & Forecast

A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 2.34%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The First Trust Intermediate Duration stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $17.06 and $17.50. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

Support, Risk & Stop-loss for First Trust Intermediate Duration stock

First Trust Intermediate Duration finds support from accumulated volume at $16.90 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.220 (1.30%) between high and low. For the last week, the stock has had daily average volatility of 0.93%.

Our recommended stop-loss: $16.23 (-4.78%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 8 days ago.)

Trading Expectations (FPF) For The Upcoming Trading Day Of Friday 26th

For the upcoming trading day on Friday, 26th we expect First Trust Intermediate Duration Preferred & Income Fund to open at $17.01, and during the day (based on 14 day Average True Range), to move between $16.84 and $17.24, which gives a possible trading interval of +/-$0.200 (+/-1.18%) up or down from last closing price. If First Trust Intermediate Duration Preferred & Income Fund takes out the full calculated possible swing range there will be an estimated 2.35% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $17.16 (0.70%) than the support at $16.90 (0.82%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is First Trust Intermediate Duration Preferred & Income Fund stock A Buy?

First Trust Intermediate Duration holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: -0.898 Hold/Accumulate Unchanged

Predicted Opening Price for First Trust Intermediate Duration Preferred & Income Fund of Friday, April 26, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.